35 replies to this topic

[andi222]

andi222, I hope you are right and that the share recover.

 

Depending on what happens to shareholder court case, if the shareholders win their claim against company (i doubt it), this company might find some shareholders claims against them also. Misrepresentation of figures in prospectus (fraud).

 

Will wait and see. Once you lose so much, can only wait and see in any case.

 

Before any IPO is accepted by JSE it needs to be audited. Furthermore the company most probably got external parties in to plan and execute the IPO. I'm sure they would need to be held accountable if there was fraud? 

 

It is very unlikely that shareholders will get any compensation. Same with Steinhoff. I don't think that Shareholders will get any compensation from it even though there might have been fraud. 

[JR7800]

andi222, I hope you are right and that the share recover.

 

Depending on what happens to shareholder court case, if the shareholders win their claim against company (i doubt it), this company might find some shareholders claims against them also. Misrepresentation of figures in prospectus (fraud).

 

Will wait and see. Once you lose so much, can only wait and see in any case.

 

[andi222]

Looks like there is a lot of negativity in this business. But one needs to understand that due to acquisitions and expansions complex transactions are on the table and which need to be accounted for correctly. This process takes time.

People where willing to invest 140 000 000 rand into this company back at listing. I'm pretty sure people did their research before investing such amounts. 

 

Let's see what happened up until now. They had numerous acquisitions, they added campuses, they added properties and now they added retirement villages.

 

Key figures in their latest interim results:

REVENUE UP 151%
SCHOOL CAMPUSES UP FROM 7 TO 11
PUPILS UP UP 48.9%
TOTAL ASSETS UP UP 49.9%

 

These are proper improvements considering that the current market cap is at 80 million. That's basically half the money that was invested 16 months ago. . . 

 

Am I missing something here or is it just the negativity because of Mismanagement that is pressing the price down?

 

In my own opinion I think this is a great long term investment. SA population is growing rapidly- leading to increased number of pupils that need education. People are getting older in SA due to medication etc. These people need retirement villages. . . The basis for long term growth is there. If management can just pick their things up there is great potential in my opinion.

[Blackobar]

I'm expecting this share crash hard when suspension is lifted.

[Blackobar]

SB45, They have been giving vague excuses, and lying about results release dates. Poor communication or just disregarding for minority shareholders. I wish i knew how the management can be fired, but the big shareholders like BMF can do something if they feel like management is failing, i guess so far they don't feel aggrieved, they still believe in this board...

[SB45]

When is the suspension coming off?

[SB45]

The management is garbage, utter tossers! They are thugs.

How can they be kicked out? Did they just give you another excuse? This is all I get when I call the offices.....

[Blackobar]

The management is garbage, utter tossers! They are thugs.

[SB45]

The business has great potential Shi no doubt. Its the ametuers running it. Also been highly frustrated by this bunch. They have completely destroyed value by sheer lies. I trust nothing they communicate.

[JR7800]

https://www.moneyweb...ding-statement/

 

How can the JSE allow this. I think it is time the JSE instituted a policy where the founders of the company cannot sell any of there initial share they get on the listing for at least 5 years. Any proceeds they receive will be held in trust and if misrepresentations come to light within 5 years or a company trading gets suspended within 5 years they lose everything and the money is used to refund shareholders who relied on the prospectus (now seems to have been misstated/false - approved by JSE as part of listing requirements) and good faith.

 

Seems this was another get rich quick scheme form the founding fathers of this company.

 

I think I must try and list a Bullll$hit company and get paid a lot just to be suspended a year later. Might be easier than to try and make money form investing in shares.

[Shi]

30c and still dropping, no sign of this one turning just yet.

[Shi]

I couldn't agree more.

 

My biggest concern is that the share will open at X amount and a few weeks later drop 50% of it's value due becoming illiquid as maybe people will realise the company will only start making profit maybe 2019.

 

Can't say that we didn't see this coming. 65c and still dropping.

[purply]

The school side figures looks really bad, I wouldn't be surprised if the retirement side looks even worse.

[Jack5]

I really wanted to like this share, but it's small things that start to irritate me about these guys. It just feels like the original shareholder is out to make as much money as he can out of this deal to benefit himself.

 

They listed specifically excluding the retirement villages business, which was a running business, and only listed the schools business which was barely a business at that stage. They did say that they would include the retirement business at a later stage. I did not think the later stage would be less than 2 months after listing.

 

Now they will have to use funds raised specifically for the schools business in order to purchase the retirement business from the owner. Where does this leave the schools expansion plans? Will they be going back to the market for more money?

 

The original shareholder is now freeing up his own cash and paying off his own debt and owning a bigger share of a larger business, at the expense of other shareholders.

 

Why exclude the retirement business in the first place, are the figures so bad that it would have made the prospectus look bad?

[100ways]

Got fully subscribed, even if it was for a few 100 shares for the kids

[JR7800]

Hi all

 

I see that the Rand value for the amount of shares I wanted to subscribe for, have been taken from my trading account balance (ABSA platform).

 

Have any one else also seen this on there accounts.

 

I am actually still in two minds on this share but nothing ventured, nothing gained.

 

Hoping for a good rally.

[Jack5]

I see notice on SENS that shares have been fully subscribed (mostly retail investors) and they will receive full allocations.

[cypher]

Intention was to list during this month and since there is no news, they have already disappointed the market ... not a good start.

Looking at their school fees (between 30 and 40K), they state that they cheaper than their competitors ... who is their competitors?

http://www.plgschool.../investors.html

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Sent from my SM-G900F using Sharenet Sharechat mobile app

[cypher]

Intention was to list during this month and since there is no news, they have already disappointed the market ... not a good start.

Looking at their school fees (between 30 and 40K), they state that they cheaper than their competitors ... who is their competitors?

http://www.plgschool.../investors.html

Sent from my SM-G900F using Sharenet Sharechat mobile app

[Shi]

Any news on allocation ?